Stifel Nicolaus Boosts Bumble (NASDAQ:BMBL) Price Target to $7.00

Bumble (NASDAQ:BMBL) had its price objective raised by investment analysts at Stifel Nicolaus from $6.50 to $7.00 in a report released on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential downside of 10.26% from the company’s previous close.

A number of other brokerages have also recently issued reports on BMBL. BTIG Research cut shares of Bumble from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Evercore ISI cut shares of Bumble from an “outperform” rating to an “inline” rating and reduced their target price for the company from $18.00 to $8.00 in a research report on Thursday, August 8th. Citigroup boosted their target price on shares of Bumble from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday. The Goldman Sachs Group boosted their price target on Bumble from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley dropped their price target on Bumble from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Bumble has an average rating of “Hold” and a consensus target price of $8.76.

Bumble Stock Down 0.1 %

Shares of NASDAQ:BMBL traded down $0.01 during midday trading on Thursday, hitting $7.80. The stock had a trading volume of 3,246,027 shares, compared to its average volume of 3,126,202. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.45. The business’s 50-day simple moving average is $6.73 and its 200-day simple moving average is $8.63. Bumble has a 12 month low of $4.80 and a 12 month high of $15.90. The company has a market cap of $987.01 million, a P/E ratio of 22.94 and a beta of 1.62.

Bumble (NASDAQ:BMBL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $268.60 million during the quarter, compared to analysts’ expectations of $273.04 million. Bumble had a net margin of 3.93% and a return on equity of 1.82%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 earnings per share. On average, sell-side analysts forecast that Bumble will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bumble

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC lifted its holdings in shares of Bumble by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 18,192 shares of the company’s stock worth $206,000 after acquiring an additional 1,430 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bumble by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,626 shares of the company’s stock worth $734,000 after acquiring an additional 3,683 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in shares of Bumble by 9.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 57,349 shares of the company’s stock worth $603,000 after acquiring an additional 4,800 shares during the last quarter. nVerses Capital LLC lifted its holdings in shares of Bumble by 47.9% in the 3rd quarter. nVerses Capital LLC now owns 17,900 shares of the company’s stock worth $114,000 after acquiring an additional 5,800 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Bumble in the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Bumble Company Profile

Bumble Inc provides online dating and social networking platforms in North America, Europe, internationally. It owns and operates websites and applications that offers subscription and in-app purchases dating products. The company operates apps, including Bumble, a dating app built with women at the center, where women make the first move; Badoo, the web and mobile free-to-use dating app; Official app where users connect their profile with that of their partner enabling a shared, linked product experience; Bumble BFF and Bumble Bizz Modes that have a format similar to the date mode requiring users to set up profiles and matching users through yes and no votes, similar to the dating platform; and Bumble for Friends, a friendship app where people in all stages of life can meet people nearby and create meaningful platonic connections, as well as Fruitz app is centered around encouraging honesty and transparency by sharing dating intentions from the first touch point.